I can't speak to truncated shapes out of personal experience, and I assume you mean FMJ ball, and Truncated FMJ. I can tell you for sure that Keith SWC's and LBT along with other flat nosed stuff, which have much larger meplats than any truncated semi auto round, penetrate like the dickens. Keith knew this, and John Linebaugh knows this now, in addition to many handgun hunters.
The truncated FMJ fodder I have examined had pretty obviously radiused transitions between the meplat, shoulder, and shank areas. I really think that if a test were done, no significant difference would be found between the two assuming all other factors were identical. It really isn't something I would waste much thought on.